VARO signs deal to acquire Calpam
The shareholders of SMD Beheer BV signed a deal to sell 100% of the shares including all business activities of Calpam BV (together ‘Calpam’) to VARO Energy ('VARO'). The sale will strengthen Calpam's focus on sustainable oil and will contribute to VARO’s ambitious growth strategy. Oaklins' team in the Netherlands served as exclusive M&A advisor to Calpam.
Calpam has been around for more than sixty years and originated from SHV and Chevron. During those sixty years, the company developed into an independent, modern and professional supplier of fuels and lubricants, with the geographical focus on the West, Central and East Netherlands. With a wide range of fuels and lubricants, Calpam focuses primarily on the automotive, industrial, contracting, agricultural and food industries. Calpam directors Karel van Cappelle and Ron Voorham: “The oil distribution market is consolidating rapidly, so we saw ample opportunity to capitalize with a new partner on its sustainable oil platform resulting in additional growth opportunities.”
With this transaction, we broaden our company’s presence in the overall fuel supply chain, to grow as an integrated logistical service provider in North West EuropeRoger Brown, CEO VARO
Adse de Kock, partner Oaklins Netherlands adds: “In this rapidly consolidating market it was important to carefully position Calpam and thoroughly address and calculate business synergies with potential buyers to ensure the best outcome for our clients.”
Blue Diesel is a full diesel replacement (thus not an additive) produced from vegetable waste oils and therefore completely renewable
Acquisitions as part of VARO'S strategy
For VARO this transaction will be a further step in strengthening the company’s position as an integrated logistics service provider to the downstream business in North West Europe. It is also a valuable addition to further improve the services VARO offers to customers in the Dutch market. Simultaneously, the company strengthens its position in the wholesale business around its terminal network in the Southern and Central part of the country. VARO CEO Roger Brown adds: “This transaction represents another step forward in our commitment to continuously expand and improve our customer offering.”
This transaction is pending customary closing conditions. The closing of this transaction is anticipated to take place at the end of October 2019, subject to the approval of the Dutch competition authorities.
Contact for this transaction
For more information on the transaction, please contact our sector specialist Adse de Kock.
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